|Published : 17 Sep 2016, 17:20:36|
ADB to give BR $200m
The Asian Development Bank (ADB) is set to give $200 million as loan to Bangladesh Railway in a bid to increase its passengers and goods transport capacities.
ADB is providing the loan under the 'Railway Rolling Stock Project', reports BSS.
To this end, an agreement will be signed between the two parties on September 28.
ADB's Country Director and Residence Mission Chief Kazuhiko Higuchi and Senior Secretary of Economic Relations Division (ERD) Mohammad Mejbahuddin will sign the agreement on behalf of their respective sides.
The funding will help to increase number of passengers on key routes such as the Dhaka-Chittagong and Dhaka-Khulna mainline by supporting the capacity building initiatives of the BR.
With the ADB's fund, BR will purchase 264 passenger carriages, 10 diesel electric locomotives for meter gauge main line network, four relief cranes, two train washing plants and one simulator for loco-master training.
The project will also enable BR to satisfy steadily growing demand and increase its market share.
Besides the ADB's financial assistance, the government will also provide additional fund for the project. - IH